OREANDA-NEWS. December 22, 2011. The Lower Chamber of Belarus’ Parliament (the Chamber of Representatives) has ratified Monday the Treaty on creating the Eurasian Economic Commission.

On November 18, Russia, Belarus, and Kazakhstan signed a declaration on further economic integration, as well as an agreement on the creation of the Eurasian economic commission, which is to oversee the integration processes.

Belarus’ President Alexander Lukashenko on November 21 forwarded the Treaty on the Eurasian Economic Commission (EEC) to the lower chamber of Belarus’ parliament for ratification.

The Eurasian Economic Commission is intended to secure further development of the Customs Union and the Single Economic Community.

The Eurasian Economic Commission will take over from the Customs Union Commission. The document suggests setting up a two-tier body with a clear division of functions and authority. A balanced system like that makes it possible to protect Belarus’ national interests, while all the decision-making process will be based on a consensus on opinions.

The Eurasian economic committee is to begin operating from January 1, 2012. Earlier, a source in the Kremlin said that the committee is to be charged with managing the integration processes in the customs union of Russia, Belarus, and Kazakhstan, as well as in the single economic space.

The committee is also to include a council attended by deputy prime ministers from each country and a panel consisting of three representatives from the constituent members.